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Becoming Native to This Place
Post Carbon Fellow Michael Shuman was quoted in this piece listing 10 ways to strengthen your local economy.
From the article:
Economist and author Michael Shuman said recently "about 42 percent of our economy is 'place based,' or created through small, locally owned businesses." This means that almost half our economy depends upon small independent businesses that make up the backbone of our hometowns.
These small businesses are what give our town local color and local flavor. They are what differentiate us from every other exit on the highway that has the same six chain stores.
Local businesses are also committed to their hometowns and support the local economy through hiring people in the area, donations to Little League and volunteer ambulance and fire service, and paying local taxes.
The way out of this recession is to build stronger local economies. These Ithaca Dollars shown in the photo are only accepted in independent stores in Ithaca, N.Y.
Shuman estimates that we could expand our national economy to be 70 percent local or more by incorporating these 10 simple steps that will actually save you money in the process.
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